Since businesses pay great heed to payroll management, it’s a no-brainer that they invest heavily in making their payroll systems efficient. One recent advancement in human resources technology is the seamless integration of different HR operations to yield better results. This is where the need to combine the payroll system with the time & attendance system was highlighted. Since both the processes are interconnected and require complete synchronization, experts came up with the solution of amalgamating both of them. It not only streamlines the two functions, i.e., attendance and payroll management separately but also brings the best out of the combination of the two as a whole.
Did You Know?
“Over 85% of best-in-class companies integrate their time & attendance system with their payroll system.” – Aberdeen Group, 2008
There must be reasons why such a large portion of the corporate sector follows this way of doing things. So, let’s jump right into the top 5 ways in which integrating payroll with attendance management software can prove to be important for businesses:
The Benefit of Going Paperless
A significant minimization in the use of paper is observed once you start using an integrated attendance payroll system. The entire range of functions involved in the two processes such as timesheet preparation, calendar management, payroll information gathering, salary calculations, attendance, and payroll reports generation, etc. are performed automatically, leaving no room for creating, printing, and storing documents of the same. The mechanized system clubbed with cloud storage takes care of all the data on the integrated system, thereby helping businesses go paperless.
Real-Time Supervision and Control
With the aid of an interfaced system for TNA (Time and Attendance) and Payroll management, the HR and Admin professionals can monitor and control both the areas at the same/actual time. Real-time tracking of attendance, manipulating the data, and recording the information for use can all be done in one go! When the HR authorities are capable of supervising the operations in real-time, the entire process becomes smooth flowing and the output is three times better than the isolated/ manual systems.
Process Accuracy and Data Security
Talking about these two important HR operations, being correct and precise is extremely necessary. Without accuracy, the whole point of incorporating a mechanized system will fail. Also, at the same time, the privacy and security of such crucial information need to be taken care of. Hence, an integrated payroll and attendance management software is used by almost every organization so that the procedure is completed without errors and the data also remains safe.
High Transparency and Reliability
Employees can check their attendance and payroll related data with the help of the systems on their own which makes the whole integrated process transparent. Since no secrets are kept, it increases the reliability of the organization in the eyes of its workforce. On one hand, when the manual way of processing payroll and managing time & attendance used to be full of loopholes and risks, the automated integrated system makes the two activities clear and trouble-free.
Insightful Attendance & Payroll Reports
Lately, who doesn’t want an in-depth explanation of every minute detail that revolves around the intricate TNA and payroll processes? This is easily done using the auto-generated reports using the integrated system. The reports provide valuable insights to the relevant employees for extracting important information and using the same to improve the workflow. The elaborate 3D reports help the workforce understand how things work, leave no grievances, and analyze the data for formulating future strategic plans.
Thus, the bottom line is that it’s always “better two than one”! The integration of these two operations makes the whole HR maneuver fall into place. And that’s why it’s a win-win for everyone!